Thursday, March 22, 2012

Uh oh: Federal Express Slashes Global Economic Estimates (FDX)

These guys are usually pretty good at this stuff, their business depends on it.
From MarketBeat:

FedEx: Economy Not Growing As Fast As We Thought
FedEx isn’t exactly singing an optimistic tune about the global economy’s prospects for 2012.

This morning FedEx slashed its 2012 growth projections, prompting fears to increase that the global recovery may not have as much momentum behind it as originally anticipated. FedEx forecast “below trend” economic growth in the coming months, saying it expects U.S. GDP growth to climb 2.1% in 2012, below its prior forecast of 2.2% this year.

FedEx’s revised global GDP forecast is even more drastic. The company now expects global growth to climb 2.3% this year compared to its prior forecast of 2.9%....MORE
The stock is down 4.2% at $91.80.